Hong Kong

Market Infrastructure

SFC Concludes Consultation on Enhancements to OTC Derivatives Regime

By Editors | 13/12/2018

OTC derivatives participants will be subject to new risk mitigation requirements, as well as conduct requirements for dealings with group affiliates and related parties.

Capital / Liquidity

IMF Commends Hong Kong for Strong Buffers, Robust Policy Frameworks

By Manesh Samtani | 12/12/2018

Years of prudent macroeconomic policies and robust financial regulation and supervision will help Hong Kong weather possible domestic and external shocks, the IMF says.

Market Infrastructure

China to Include Dual Class Shares in Southbound Stock Connect Trading

By Editors | 10/12/2018

Chinese stock exchanges will work with HKEX to formulate rules enabling mainland investors’ access to Hong Kong-listed dual class shares by mid-2019, after banning them in July.

Fintech / Regtech

HKMA to Grant Virtual Banking Licences in Q1 2019

By Editors | 10/12/2018

The HKMA has provided an update on the processing of virtual banking applications, saying it will shortlist one-third of remaining applicants with an aim to granting licences in Q1 2019.

Enforcement

Soros-Linked Fund Manager Fined in Hong Kong for Naked Short Selling

By Editors | 07/12/2018

SFM HK Management Ltd, owned by New York’s Soros Fund Management, was fined HK$1.5mn for short selling Great Wall Motors bonus shares before they were available for trading.

Capital / Liquidity

SFC Revised Code for Funds to Take Effect from January 2019

By Manesh Samtani | 07/12/2018

Amended ‘Code on Unit Trusts and Mutual Funds’ to take effect in January with 12-month transition period. Proposals on classification of derivatives funds have been revised.

Securities / Derivatives

China Enables Bond Market Access Through Bloomberg Terminal

By Editors | 03/12/2018

The PBOC says preparatory work has been completed to enable international investors’ access to China’s interbank bond market, via Bond Connect, through Bloomberg terminals.

Fintech / Regtech

TransUnion Online Service Suspended in Hong Kong – Reports

By Editors | 03/12/2018

The HKMA and privacy commissioner have demanded security improvements after reporters were able to access top officials’ credit reports through TransUnion’s online service.

Market Infrastructure

HKIFA Seeks Loosening of HK-China MRF Restrictions

By Editors | 27/11/2018

The industry association has been working with EY on proposals aimed at making it easier to distribute Hong Kong-based funds into China through the mutual recognition scheme.